emoter eter at present time the outlook for imports in the China trade is exoeedingly dreary, What with inundations, bad harvests, misgovernment, and the imbroglio with France, a paralysis seems to have crept into Chinese enterprize, Looully there have been losses from over-speculation in phantom companies which have farther crippled native dealers, But those in the torium markets are no doubt restricting their operations on acovuut of the i juries which their customers' have received from the causes we have specified, or else they are determined to do us little business as possible while peace and warfare hanging in thebalanoo, Such would be the cnse to some extent where, bat in China the natural dity of the natives who have any. thing to lose exaggerates cantion into cowardice. And the impression seems to be strengthening among foreign merchants that there will be no general revival of trade in manufactures until peace between this country and France has been assated. Usually a large business is done here in goods at about the close of our year. But importers appear to have made up their minds that there will be no great demand for their wares during what has yet to run of 1883. In this we hope they will be disappointed, bat we are at the same time obliged to confess that there is little beyond the general rale that things go by contraries in China to make us hopeful, We think it was Lord Elgin who aid, with regard to Chinese politics, that after having convinced oneself that the authorities at Peking would follow certain course, we should be certain to find them adopting the reverse of everything that appeared wise and proper to a western, It sometimes happens that the same unexpected se. que loocurs in trade, A demand springs
stooks ensues just when up, and an unhoped-for light " a had been telling merchants that wothiog of the kind would happen, and mer. chants felt compelled, from what they w and heard, to believe them, We lope it may prove so before the cure rent year closes. Importers here are not in a worse plight than their ueighe hours in Hongkong. A recent number of the Trade Report stated that the uncertainty of the foreign relations of China had most injuriously affected the import trade of the Colony, Every godown was crammed with goods; the Chinese who possessed means were hold= ing aloof and seemed determined to abstain from business. Now, it is quite probable that a considerable part of these unsold goods in Hongkong, have ing been sent out optionally for that port avo beau adding to the stag tion in oar market, or rather, me creasing the anxiety of their owners to realize here. 'There is not very much difference between storing goods in Hongkew or Hongkong. Our con. stant communication by telegraph, and steamers with the colony would enable merchants to procure goods from it in from three to four days' time, Considerable as the stuck of staple manufactures in C} may be, they cannot be regarded as excessive, and the quantities on the water are moderate, The deliveries of grey shirtings for the year are some seven per cent. leas than in 1882, which was an nngatiae factory season, and About eleven per cent, less than in 1881. The reduction of business this year has chiefly taken place since July, that is, since the strain on the relations with France has been intensified by delay, if not by anything that has actually ocourred. The exti ordinary expenditure on war material which has been going on during that period has no doubt been injurious to our native customers. The money to pay for iron-clads, batteries, rifles and cartridges, must have been wrang oué of the industrial and trading classes to a largo extent. It is they who gen ally have to find the fands which their rulers squander on building iron-dade at a speed little less than that with
Text read from the printed page and cleaned; old type leaves the occasional error.